Plus   Neg

TransDigm Group To Buy Cobham Aero Connectivity For About $965 Mln In Cash

TransDigm Group Inc. (TDG) said that it agreed to acquire Cobham Aero Connectivity for about $965 million in cash, including tax benefits.

Cobham Aero Connectivity, which is headquartered in Marlow, UK, is a provider of highly engineered antennas and radios for the aerospace end market. It is expected to generate about $225 million in revenue in 2020. The company operates from two primary facilities in Marlow, UK and Prescott, Arizona. It employs about 760 people.

The acquisition is expected to close during the first calendar quarter of 2021, and to be financed through existing cash on hand.

In an update on potential divestitures of former Esterline operating units, TransDigm said it is now working with outside advisors to assist in the process of identifying and approaching potential buyers. At this time, the timeline for any announced divestitures remains uncertain.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The U.S. Food and Drug Administration said that it will rapidly work toward finalization and issuance of an emergency use authorization of Johnson & Johnson's (JNJ) single-shot COVID-19 vaccine candidate. Billionaire Warren Buffett's Berkshire Hathaway Inc. (BRK.A, BRK.B) reported that its fourth-quarter net earnings attributable to shareholders rose 23 percent to $35.84 billion from last year's $29.16 billion, with earnings per share improving to $23,015 per Class A share from $17,909 per Class A share in the prior year. Walmart Inc. has launched a nationwide drive to boost COVID-19 vaccination rates by reaching out to more residents in vulnerable communities. The retail giant will organize a series of community events at 43 locations in 18 states to administer the COVID-19 vaccine. Walmart said it plans to continue these new events over the next several weeks as vaccine allocations allow.
Follow RTT